Visitors Now:
Total Visits:
Total Stories:
Profile image
By Mark Wadsworth blog
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

And now it all makes sense…

Saturday, October 22, 2016 3:15
% of readers think this story is Fact. Add your two cents.

(Before It's News)

A quote from this intriguing article in the Mail…

“The other major stumbling block for those landlords worst affected by the tax changes has been a perceived need to refinance, the costs of which can prove to be astronomical and may result in losing preferable mortgage terms agreed prior to the credit crunch.”


I've long suspected that Mark Carney's 'forward guidance' (and all those bland speeches he manages to get reported everywhere as 'interest rates are about to rise') is all about wrong-footing consumers into fixing their mortgage rates.  It's forgivable too, as his job as a macro-prudential regulator is to keep the banks safe.

Mark Carney opens his mouth and the interest rates futures market jumps.  Mark Carney makes the merest hint of rising rates and folk in my office all start panicking and fixing their mortgages.  It works.

I guess not only do the BTL reforms create the need for highly leveraged landlords to re-mortgage, it also pushes them into business banking, where they can be well and truly pillaged with almost utter impunity.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.